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Mergers & Acquisitions

Loftware Acquires PRISYM ID, Expands Enterprise Labeling Solutions for Medical Device and Pharmaceutical Companies

2022-01-14

Portsmouth, NH – January 11, 2022 – Loftware Inc., the largest global software company specializing in Enterprise Labeling and Artwork Management solutions, today announced that it has acquired PRISYM ID, a leading provider of regulated content and label management solutions with a focus on clinical trials, medical device and pharmaceutical labeling. The acquisition expands Loftware’s Enterprise Labeling solution offerings for the medical device and pharmaceutical industries while enhancing Loftware’s end-to-end cloud-based labeling platform by adding advanced clinical trial labeling and regulated content management capabilities.

The union furthers Loftware’s long-standing commitment to medical device and pharmaceutical customers and strengthens the Company’s ability to meet labeling complexities and evolving regulatory demands. The need to improve agility, manufacturing, and distribution in support of patient safety and healthcare outcomes has never been more vital as COVID-19 has amplified the challenges in medical device and pharmaceutical supply chains. Building on PRISYM ID’s industry focus, Loftware will offer customers new levels of innovation to help enable compliance through accurate, validation-ready labeling solutions and regulated product content, while also growing the Loftware platform and offering more services to these strategic markets. The platform empowers companies to optimize continuity, improve agility and enable traceability as they’re faced with new and ensuing challenges around today’s complex supply chain, which has placed extra emphasis on the importance of labeling.

This acquisition will also help customers tackle the challenges of clinical trial labeling, performed either in-house, through Clinical Research Organizations (CRO) or through Clinical Development & Manufacturing Organizations (CDMO). This comes at a time when companies are setting new benchmarks for accelerating clinical development and the need to decentralize clinical trials and deliver supplies to a myriad of locations is ever increasing. The importance of accelerating clinical trials and getting medicines and vaccines to patients sooner has never been more important. Additionally, the acquisition enables customers across all industries to meet a broader set of requirements. It adds clinical trials solutions to Loftware’s existing Enterprise Labeling and Artwork Management platform and will enhance medical device and pharmaceutical manufacturers’ ability to deliver certainty and safety to patients with validation and compliance-ready labeling solutions. Both Loftware and PRISYM ID customers will benefit from the increased scale and investment, continuous innovation, and unparalleled domain expertise that Loftware brings to its industry leading platform with the PRISYM ID acquisition.

Article source:MedTech Intelligence